Ras Al Khaimah hosts AHIC 2018 and Window 2 the Future
Ras Al Khaimah was the location in mid-april for the 14th edition of the Arabian Hotel Investment Conference (AHIC) in a first for the emirate
The annual knowledge and networking platform for the global hospitality investment community was organized in partnership with Ras Al Khaimah Tourism Development Authority (RAKTDA) and inaugurated by AHIC host and patron, UAE Supreme Council Member and Ruler of Ras Al Khaimah, His Highness Sheikh Saud Bin Saqr Al Qasimi.
“In a relatively short period of time, Ras Al Khaimah has changed dramatically, from a quiet, agricultural town, where a formal education was hard to come by, to a thriving city with a diverse economy and great educational institutions. Our emirate, our people, our economy and our industries have been on quite an incredible journey,” Sheikh Saud said in his official opening address.
Speaking about the key role earmarked for the hospitality and tourism sector and the emirate’s plans to support its growth, Sheikh Saud said, “We aim to increase tourism’s GDP contribution to 10 percent by 2025. Already, the sector has been growing at a rate of about 19 percent year-on-year. We aim to have 1 million visitors by the end of this year in Ras Al Khaimah and we have a target of 2.9 million per year by 2025.”
In 2017, Ras Al Khaimah saw an average year-round occupancy of 74 percent, an average length of stay of 3.4 days and total revenues that produced doubledigit growth year on year, whilst visitor satisfaction reached an impressive 90 percent. According to data released by RAKTDA, hotel occupancy in Q1 2018 reached 79.4 percent, marking the highest ever level recorded in the emirate for a quarterly period.
In his opening keynote discussion with BBC Hardtalk presenter Stephen Sackur, His Excellency Mohamed Alabbar, founder and chairman of Emaar Properties, discussed the future of hospitality in relation to the region and the opportunities of tomorrow, before announcing the launch of the company’s first hotel and residences project in Ras Al Khaimah.
Located on the Views island of Al Marjan Island, a four-island mega-development, Address Al Marjan Island hotel and residences will be managed by Emaar Hospitality Group’s premium lifestyle brand, Address Hotels + Resorts. The hotel will have 249 rooms, including suites, while Address Residences Al Marjan Island will comprise 234 high-end apartments. As part of Views, the largest of the four islands, residents will be in close proximity to the urban core of the master-planned community, as well as the town center.